Anybody work in real estate?
- Thread starter hsanchez
- Start date
lion_crazz
Active Member
A friend of mine works in real estate. I will ask her.
I am almost sure it will though.
I am almost sure it will though.
phixer
Active Member
Thats a good question, my folks used to work in Real estate and once sold a place where a similar event happened. I would imagine that the location would still outweigh the event if the price is right. If its in a good location it should still sell but Im sure the price would have to come down.
ryanhayes9
Active Member
prolly wont be able to move in for some time.. crime scene!
pontius
Active Member
I am a licensed realtor. no, a murder does not effect the 'value' of a house. would not affect the assessment or the comparative market analysis (usually the price that sellers place on the house). in fact, if I remember correctly from my classes, realtors aren't even supposed to mention such things to potential buyers unless the buyer asks about it first.
the effect of a murder on a property can be a "psychological stigma" to the buyer, but does no literal physical damage such as sagging roof, outdated plumbing, or lead paint (which all must be disclosed).
the effect of a murder on a property can be a "psychological stigma" to the buyer, but does no literal physical damage such as sagging roof, outdated plumbing, or lead paint (which all must be disclosed).
shrimpdady
Member
Originally Posted by Phixer
Unless of course the address is 112 Ocean Avenue, Amityville NY. :hilarious
:scared: :hilarious
Unless of course the address is 112 Ocean Avenue, Amityville NY. :hilarious
ruaround
Active Member
Capitalization Rate (CAP Rate)
In real estate appraisal, capitalization is the process of converting income, in the case of real estate net rental income, to a property value. The capitalization rate or CAP Rate for short, is the ratio of yearly net income to the property value. For example, if you purchase an investment property for $120,000 dollars and can generate $1,000 per month after all operating expenses (before debt service), then the CAP Rate would be $12,000 divided by $120,000 or 10 percent. This means it will take approximately 10 years to recoup the property value in net rental income assuming the rent stays the same.
In general, the lower the CAP Rate the better if you are selling and the higher the CAP Rate the better if you are buying. However, make sure the neighborhood is good and the property is in decent condition. CAP Rate does not help if the property is declining in value.
*rogue investor.com
In real estate appraisal, capitalization is the process of converting income, in the case of real estate net rental income, to a property value. The capitalization rate or CAP Rate for short, is the ratio of yearly net income to the property value. For example, if you purchase an investment property for $120,000 dollars and can generate $1,000 per month after all operating expenses (before debt service), then the CAP Rate would be $12,000 divided by $120,000 or 10 percent. This means it will take approximately 10 years to recoup the property value in net rental income assuming the rent stays the same.
In general, the lower the CAP Rate the better if you are selling and the higher the CAP Rate the better if you are buying. However, make sure the neighborhood is good and the property is in decent condition. CAP Rate does not help if the property is declining in value.
*rogue investor.com
ryanhayes9
Active Member
Originally Posted by JoeSalmi
I wouldn't want to be the person that moves in that house. I wouldn't buy it for a buck
or buy for a dollar and sell it! LOL :thinking:
I wouldn't want to be the person that moves in that house. I wouldn't buy it for a buck
or buy for a dollar and sell it! LOL :thinking:
thirty6
Member
murder took place outside? who cares, clean it off, plant a tree in memory, move in and paint!
i get to see the inside of homes through work. almost any home you look at with any age to it will sure have seen death. i go on doa calls all the time, a few crime scene deaths, and no matter you break it down: a dead person was in your house.
if there is a positive, i remember everyone of the houses, so when you need a police officer, they ll know exactly where you house is! good luck
i get to see the inside of homes through work. almost any home you look at with any age to it will sure have seen death. i go on doa calls all the time, a few crime scene deaths, and no matter you break it down: a dead person was in your house.
if there is a positive, i remember everyone of the houses, so when you need a police officer, they ll know exactly where you house is! good luck
lovethesea
Active Member
If I remember correctly Nicole Simpsons family took a major financial hit on the condo that her murder took place in. I think they got 1/2 of what that property would have normally gotten.
petieaztec
Member
i wouldn't buy it. i am afriad of ghosts :help:
maxalmon
Active Member
In CA you MUST disclose if anyone has died in the home, we watched one house in a neighborhood sit for over 2 years because an infant had drowned in the pool and several years prior the grandmother had passed away in a bedroom, the home finally sold for about 150k less than comps in the area. I for one would never purchase a home where someone had died, whatever the reason. I doesn't affect the real value, only what people will actually pay.
shu-perman
Member
I had a friend who bought a house that the father killed his wife and kids by trying to burn it down by starting a fire w/ a pile of
[hr]
mags in the living room...once the house was rebuilt I moved in as my friends tenant...that house was HAUNTED and I would imagine still is.....I would come home from work and my shower would be ON HOT w/ the door closed...and no I wouldnt' leave the shower on and leave for work....other times I would close the vertical blinds in the living room while watching tv b/c the neighbors would spy on me and my g/f (at the time) but in the morning the blinds would be totally open....not just turned but pulled back too....doors would slam to the bedrooms but the windows would be closed....there were many unexplainable things that happened to me and my friends in that house....made it a kinda fun place to live.....oh ya the swing set that belonged to the kids (we left in the backyard) would swing w/ no wind...not both swings only 1 at a time.....
When he bought it...he got a smokin deal b/c he was the adjuster for the insurance company and they thought they wouldn't be able to get market value b/c of what happened....when he sold it he did disclose the murder/suicide (but not that it was haunted) and made a killing (pun intended...hahaa)....
[hr]
mags in the living room...once the house was rebuilt I moved in as my friends tenant...that house was HAUNTED and I would imagine still is.....I would come home from work and my shower would be ON HOT w/ the door closed...and no I wouldnt' leave the shower on and leave for work....other times I would close the vertical blinds in the living room while watching tv b/c the neighbors would spy on me and my g/f (at the time) but in the morning the blinds would be totally open....not just turned but pulled back too....doors would slam to the bedrooms but the windows would be closed....there were many unexplainable things that happened to me and my friends in that house....made it a kinda fun place to live.....oh ya the swing set that belonged to the kids (we left in the backyard) would swing w/ no wind...not both swings only 1 at a time.....
When he bought it...he got a smokin deal b/c he was the adjuster for the insurance company and they thought they wouldn't be able to get market value b/c of what happened....when he sold it he did disclose the murder/suicide (but not that it was haunted) and made a killing (pun intended...hahaa)....
shu-perman
Member
Originally Posted by lovethesea
If I remember correctly Nicole Simpsons family took a major financial hit on the condo that her murder took place in. I think they got 1/2 of what that property would have normally gotten.
That was b/c it was a high proflile murder that had toursists constantly coming to the property to take pictures....
If I remember correctly Nicole Simpsons family took a major financial hit on the condo that her murder took place in. I think they got 1/2 of what that property would have normally gotten.
That was b/c it was a high proflile murder that had toursists constantly coming to the property to take pictures....
lovethesea
Active Member
Originally Posted by Shu-perman
That was b/c it was a high proflile murder that had toursists constantly coming to the property to take pictures....
But then it also sold again for market value. Go figure.
That was b/c it was a high proflile murder that had toursists constantly coming to the property to take pictures....
But then it also sold again for market value. Go figure.
saltwater8
Member
Actually I am a Broker/Realtor, go figure, huh? lol
The answer to your question is - YES.
The property becomes known as a "stigmatized property".
In some states, the Realtor, can not tell the buyer this information unless they specifically ask. In others the Realtor MUST disclose this information - for one, because some religions prohibit the living in a home where a death occurred.
If the buyer is working with a Realtor who is acting on their behalf, a buyers agent, then the Realtor, no matter what state, MUST disclose this information or they could lose their license.
Believe me, it has happened more than a few times, they buyer signs the offer to purchase and before closing, talks to the neighbors, and then you are worse off.
The answer to your question is - YES.
The property becomes known as a "stigmatized property".
In some states, the Realtor, can not tell the buyer this information unless they specifically ask. In others the Realtor MUST disclose this information - for one, because some religions prohibit the living in a home where a death occurred.
If the buyer is working with a Realtor who is acting on their behalf, a buyers agent, then the Realtor, no matter what state, MUST disclose this information or they could lose their license.
Believe me, it has happened more than a few times, they buyer signs the offer to purchase and before closing, talks to the neighbors, and then you are worse off.